Williston single family home sales are up 23% over 2015. Big question is without the production builders will we run out of inventory and see a rise in prices? To see the news story click HERE.
Brent Sanford, Mayor of Watford City is now officially our future Lieutenant Governor, soon to join our Governor Elect Doug Burgum. To learn more about the process of selecting his running mate and the role Watford City played please click HERE.
Due to additional contributions from the Alva J. Field Trust, Williams County High School graduates can continue to receive free tuition and fees at the Williston State College for many more years. Click HERE for more.
They have broken ground on the new holes for the Fox Hills Golf Course also known as the Watford City Golf Course. Crews are shaping fairways, greens and tee boxes through the Fox Hills and Stepping Stone Golf Course Communities. Plans are to rough shape this year, finish shaping and plant grass next summer and begin play either late 2017 or summer of 2018. Lets hope they can stay on schedule? The Watford City/Fox Hills golf course web site has a section under MORE that will be the update spot for the golf course expansion project. Click HERE for the link!
Realtors are constantly asked questions about the real estate market. Is it a sellers or buyers’ market or are we in transition? The real estate market like most markets such as commodities are cyclical and almost always in change. For almost 5 years The Bakken was in a sellers’ market. Demand exceeded supply. For the last two years we have been in a buyers’ market. Supply exceeds demand.
As of late, there are factors one needs to pay attention to. Companies are hiring again. Very few new homes are being built. Most homes that are under construction presently are custom homes being built to customer orders. When the present inventory of homes is reduced just enough to lessen the choices available to buyers, we will begin the transition back to a sellers’ market.
In a transition market things start to even out and the beneficial opportunities for the present market (whatever it is at the time) begin to decline. The best time to buy is in a buyers’ market and the best time to sell is in a sellers’ market.
This article offers some additional insight. Click HERE
Saudi Arabia has lost trillions in revenue with low oil prices. They finally declared their strategy to have failed. Read HERE.